LION STATE
LION STATE is a Texas oil lease in Reeves County, Railroad Commission district 08, operated by Cog Operating LLC. It has 2 wellbores on file with the Commission. Reported production runs from July 2012 to August 2026, totalling 680,105 barrels. The lease is currently producing. Fitting a decline curve to that history and pricing the remaining production at today's forward curve values the whole lease — a 100% undivided interest — at about $3.0M, with roughly $892K expected over the next twelve months. An individual royalty owner receives their own decimal interest times that figure. Over the last twelve months on file it averaged 1,416 barrels a month, about 708 per wellbore. Its strongest month on the record we hold was October 2017, at 9,614 barrels. In our own backtest, leases producing at this rate are forecast to within about 17% of what they went on to produce, and that measured error is the range shown on the page rather than a confidence of our own devising.
Key facts about LION STATE
- Who operates LION STATE?
- LION STATE is operated by Cog Operating LLC, Railroad Commission of Texas operator number 166150.
- Where is LION STATE?
- LION STATE is a Texas oil lease in Reeves County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 43578.
- Is LION STATE still producing?
- LION STATE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for LION STATE is August 2026.
- How much has LION STATE produced?
- LION STATE has reported 680,105 barrels of oil (bbl) to the Railroad Commission of Texas between July 2012 and August 2026, from 2 wellbores.
- How much is LION STATE worth?
- The remaining production from LION STATE is estimated to be worth about $3.0M in total as of 26 August 2026, within a range of $2.5M to $3.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in LION STATE is a fraction of it. The estimate fits an Arps decline curve to the production LION STATE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for LION STATE is an estimate of value, not an offer and not an appraisal.
- How much income does LION STATE generate in a year?
- LION STATE is forecast to net about $892K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in LION STATE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Cog Operating LLC |
|---|---|
| Field | Wolfbone (Trend Area) |
| County | Reeves County, Texas |
| RRC district | 08 |
| Lease number | 43578 |
| Wellbores | 2 |
| Reported production | 680,105 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $3.0M |
Where LION STATE sits
Source: Railroad Commission of Texas lease production records, complete through . Figures on this page were computed on .
Production figures are as reported to the Railroad Commission of Texas. The value shown is an estimate produced by fitting a decline curve to that reported history; it is not an offer or an appraisal. How this estimate is calculated.